Acadian Asset Management LLC Has $5.45 Million Stake in Kodiak Sciences Inc. $KOD

Acadian Asset Management LLC lifted its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 27.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,946,134 shares of the company’s stock after purchasing an additional 413,821 shares during the quarter. Acadian Asset Management LLC owned 3.69% of Kodiak Sciences worth $5,454,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC purchased a new position in Kodiak Sciences during the 1st quarter worth $392,000. Adage Capital Partners GP L.L.C. boosted its holdings in Kodiak Sciences by 16.3% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company’s stock worth $3,719,000 after acquiring an additional 186,180 shares during the last quarter. XTX Topco Ltd purchased a new position in Kodiak Sciences during the 1st quarter worth $126,000. GSA Capital Partners LLP boosted its holdings in Kodiak Sciences by 163.6% during the 1st quarter. GSA Capital Partners LLP now owns 205,833 shares of the company’s stock worth $577,000 after acquiring an additional 127,748 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in Kodiak Sciences during the 1st quarter worth $28,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Trading Down 6.8%

Shares of KOD opened at $9.25 on Friday. The company has a market cap of $488.60 million, a PE ratio of -2.43 and a beta of 2.45. The stock has a 50-day moving average price of $7.88 and a 200-day moving average price of $5.02. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $11.60.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). As a group, analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Kodiak Sciences from $4.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. raised Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 target price for the company in a research report on Thursday, August 14th. Finally, HC Wainwright raised their target price on Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.75.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.